SoFi Technologies (NASDAQ:SOFI) Stock Price Up 5.3% - Here's Why

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price rose 5.3% during trading on Friday . The company traded as high as $12.00 and last traded at $11.99. Approximately 10,667,141 shares changed hands during trading, a decline of 77% from the average daily volume of 46,260,914 shares. The stock had previously closed at $11.39.

Analysts Set New Price Targets

SOFI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and set a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Mizuho raised their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. William Blair reissued an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. Needham & Company LLC lifted their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Finally, Morgan Stanley lifted their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a report on Thursday, December 19th. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $12.50.

SoFi Technologies Stock Up 5.9 %

The company has a market cap of $13.23 billion, a price-to-earnings ratio of 32.55, a P/E/G ratio of 2.24 and a beta of 1.79. The stock's 50-day moving average is $14.94 and its 200-day moving average is $12.78. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

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SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter last year, the firm posted $0.04 earnings per share. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 8,914 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the transaction, the executive vice president now directly owns 178,811 shares of the company's stock, valued at approximately $3,143,497.38. The trade was a 4.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eric Schuppenhauer purchased 30,600 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the acquisition, the executive vice president now directly owns 46,105 shares in the company, valued at $753,355.70. The trade was a 197.36 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 92,004 shares of company stock worth $1,459,060. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Elequin Capital LP boosted its position in SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company's stock worth $42,000 after purchasing an additional 631 shares during the period. CIBC Private Wealth Group LLC boosted its position in SoFi Technologies by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock worth $881,000 after purchasing an additional 685 shares during the period. Captrust Financial Advisors boosted its position in shares of SoFi Technologies by 2.8% in the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company's stock valued at $233,000 after acquiring an additional 809 shares during the period. Summit Trail Advisors LLC boosted its position in shares of SoFi Technologies by 0.3% in the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company's stock valued at $2,204,000 after acquiring an additional 855 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of SoFi Technologies by 3.5% in the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company's stock valued at $223,000 after acquiring an additional 962 shares during the period. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.

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